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Tag: Nigeria

Nigerian food exports rise amid naira devaluation concerns
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Nigeria’s inflation rate hits 22% – NBS

  The National Bureau of Statistics on Saturday revealed that the nation’s inflation rate rose to 22.04% in March 2023. According to The PUNCH, the percentage is 13.4 percentage points higher than the 21.91% seen in the prior month. It was noticed that food prices increased by 24.45% in March 2023 compared to 24.35% in […]

Remita CEO
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Infrastructure upgrade will support cashless policy – Remita

The Managing Director of Remita Payment Services Limited, Deremi Atanda, has stressed the need for quality infrastructure upgrade to support the growth of digital payments in Nigeria. This was during the first edition of the SystemSpecs Tech Innovation Webinar Series held in partnership with FintechNGR, accessed by The Punch. The event, themed ‘Cashless policy: Sustaining […]

Buhari
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Fuel subsidy: Buhari yet to meet criteria for removal, say marketers

  The Independent Petroleum Marketers Association of Nigeria has declared its stand on the subsidy. The Association disagreed with subsidy’s removal, arguing that the current government, President, Major General Muhammadu Buhari (retd.), did not meet the necessary criteria for its removal. The Nigeria Union of Petroleum and Natural Gas Workers stated that it would disclose […]

Director-General, PenCom, Aisha Dahir-Umar
Business

Contributory asset rose above N1tn in one year- PenCom

The Contributory Pension Scheme’s asset rose from N13.76tn as of the the end of February 2022 to N15.45tn February 2023 which account for a N1.68tn increase in one year. PenCom made this disclosure in its unaudited report on the pension funds industry portfolio,  accessed by The Punch. This report covers the period up until February […]

Business

Unemployment will rise to 40.6% in 2023 – KPMG

KPMG has reported that Nigeria’s unemployment rate will continue to rise and hit 40.6% in 2023. This was revealed in the multinational’s latest report titled, “Global Economic Outlook” for the first quarter of the year 2023 accessed by AMBusiness. According to the report, unemployment is projected to persist as a significant challenge in 2023 due […]

A photo of President Buhari and the redesigned note
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Nigeria’s GDP to grow by slow rate of 3% – KPMG

KPMG has estimated that Nigeria’s Gross Domestic Product will have a slow growth rate of 3% in 2023 due to challenges related to the redesign of the naira and the ongoing political transition. This was in its report titled, ‘2023 Global Economic Outlook H1″ accessed by AMBusiness. According to the report the global economic slowdown […]

United Nation's logo
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Nigeria to save $1.3bn by stopping substandard ACs and Refrigerators – UN

The United Nations Environment Programme has reported that Nigeria could save approximately $1.3bn per annum if it ceases using air conditioners and refrigerators that do not comply with the Minimum Energy Performance Standards. This was disclosed In their report titled “Project Overview of Scaling-Up Energy-Efficient and Climate-Friendly Cooling in Nigeria’s Nationally Determined Contribution Revision,” accessed […]

Dr. Anthonia Alebiosu
Business

FIRS staff wins Africa’s award in taxation

A staff member of the Federal Inland Revenue Service, Dr. Anthonia Alebiosu, has been announced as a winner of the prestigious ‘Forty Under 40 Africa Award’ in South Africa. According to The PUNCH, the event was held in late March, where Dr. Alebiosu won the taxation category of the award, competing against over a thousand […]

Business

SON warns against buying uncertified products

The Director General of the Standards Organisation of Nigeria, Malam Farouk Salim, has urged Nigerians to avoid buying uncertified products that could pose a risk to their well-being. According to The Punch, Salim made this announcement during SON’s Special Day event, which took place on Thursday at the ongoing 34th Enugu International Trade Fair in […]

Debt Management Office,Nigeria
Business

Private sector predicts more hardship as national debt hits N46trn

Members of Organised Private Sector and economists have predicted more hardship for Nigerians and organizations as the total public debt stock increased to N46.25tn in the last of 2022. This comes after the announcement of the the Debt Management Office on Thursday that revealed that Nigeria’s total public debt stock increased to $103.11bn in the […]

Naira redesign: CBN has my approval, Buhari clarifies
Business

Substandard ACs, refrigerators suck Nigerians’ finances – FG

The Federal Government has stated that it will not allow the importation of substandard air conditioners and refrigerators as they strain finances, causing higher energy bills. This followed after the United Nations reported that Nigerians purchase about one million air conditioners annually. According to The Punch, Nigeria government has instructed relevant agencies to ensure that […]